LightPath Technologies (NASDAQ:LPTH) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

LightPath Technologies, Inc. (NASDAQ:LPTH) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.18 and traded as high as $13.70. LightPath Technologies shares last traded at $13.63, with a volume of 2,597,373 shares traded.

Analysts Set New Price Targets

LPTH has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of LightPath Technologies in a research note on Tuesday, April 21st. Wall Street Zen lowered shares of LightPath Technologies from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Finally, Canaccord Genuity Group raised their target price on shares of LightPath Technologies from $15.50 to $16.50 and gave the stock a “buy” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, LightPath Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $14.12.

LightPath Technologies Stock Performance

The company has a market cap of $855.83 million, a PE ratio of -27.26 and a beta of 1.33. The company has a current ratio of 3.86, a quick ratio of 3.24 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average is $14.37 and its two-hundred day moving average is $12.18.

LightPath Technologies (NASDAQ:LPTH) last issued its quarterly earnings results on Thursday, May 7th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.02). The business had revenue of $19.15 million during the quarter, compared to analyst estimates of $17.04 million. LightPath Technologies had a negative return on equity of 15.55% and a negative net margin of 37.38%. On average, equities research analysts anticipate that LightPath Technologies, Inc. will post -0.11 EPS for the current year.

Insider Buying and Selling at LightPath Technologies

In related news, Director Run Strategic Opportunit North sold 3,571,400 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $14.00, for a total transaction of $49,999,600.00. Following the completion of the sale, the director owned 2,934,828 shares in the company, valued at approximately $41,087,592. This trade represents a 54.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 3,864,452 shares of company stock valued at $53,576,437 over the last three months. Corporate insiders own 24.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Portolan Capital Management LLC bought a new stake in shares of LightPath Technologies during the third quarter valued at approximately $12,939,000. HUB Investment Partners LLC lifted its holdings in shares of LightPath Technologies by 141.0% in the third quarter. HUB Investment Partners LLC now owns 200,000 shares of the technology company’s stock worth $1,586,000 after buying an additional 117,000 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in shares of LightPath Technologies in the third quarter worth $8,445,000. AIGH Capital Management LLC boosted its position in shares of LightPath Technologies by 14.5% during the fourth quarter. AIGH Capital Management LLC now owns 1,030,738 shares of the technology company’s stock worth $11,132,000 after acquiring an additional 130,738 shares during the last quarter. Finally, Harbor Capital Advisors Inc. bought a new position in shares of LightPath Technologies during the fourth quarter worth $672,000. 56.29% of the stock is owned by hedge funds and other institutional investors.

About LightPath Technologies

LightPath Technologies, Inc designs, manufactures and distributes precision optical components and assemblies for a variety of commercial, industrial, defense and scientific applications. The company’s portfolio includes molded glass aspheric lenses, precision glass optics, infrared lenses and assemblies, diamond-turned optics and molded polymer optics. These components are engineered to support imaging, illumination, laser delivery, detection and sensing systems across visible, ultraviolet and infrared wavelengths.

Among its core offerings, LightPath develops infrared optical solutions using materials such as germanium, zinc selenide and chalcogenide glasses for thermal imaging, night-vision devices and spectroscopy.